Barclays PLC will head to a London court later this month to defend its decision to shift its staff pension scheme into the riskier investment banking unit, which will be separated from the bank’s retail operations under new U.K. rules.
The U.K. data protection agency urged public sector leaders on Friday to promote accountability and deter staff from "box ticking" when Europe's formidable information rulebook takes effect in less than four months.
The Financial Conduct Authority said on Friday it is investigating whether the U.K.’s personal pension insurance industry, which manages around £400 billion ($569 billion) in assets, is sufficiently competitive.
Waste collector Republic Services cannot press its claim that Lloyd's of London underwriters breached a $25 million excess policy by failing to pay the company's costs in connection with pollution at a Missouri landfill, an Arizona state judge has ruled, saying the claim is premature because the underlying primary insurance hasn't been exhausted.
A leading U.K. financial services lobby on Thursday revived its pitch for a unique deal giving banks and market players post-Brexit access to the European Union’s single market based on mutual regulatory recognition, responding to growing fears that financial services will be excluded from a future trade deal.
Royal Mail PLC and the Communication Workers Union announced Thursday that have reached a groundbreaking deal to launch the U.K.'s first pension offering flexible “ambitions” for a retirement income rather than promising specific returns to members.
The U.K. government must start helping the insurance industry to monitor and record claims made following online attacks, to work toward stabilizing the free-wheeling market for cyber cover, a leading trade lobby has said.
A new European Union body established to promote the use of blockchain technology will help guide policies for regulating its use in financial services and markets, senior EU officials said Thursday.
The Financial Conduct Authority has tapped agency veteran Nausicaa Delfas for a newly created position as executive director of international affairs, putting her in charge of shaping the FCA’s role on the regulatory stage once Britain exits the European Union.
The remaining members of a 13-strong criminal gang have been sentenced for conspiracy to defraud a motor insurer and related money laundering offenses, City of London Police said on Thursday.
The insurance industry has attacked plans to make it foot a portion of the bill for the U.K.’s bankruptcy compensation scheme to cover customers of insurance brokers, saying the Financial Conduct Authority’s proposals “defied logic.”
A U.K. firm that acquired an insurance brokerage business from FJ Lock & Associates Ltd. is suing three of the company’s directors for around £500,000 it alleges it's owed in payments connected to the acquisition.
An expert group appointed by the European Commission set out on Wednesday its strategic recommendations for pushing financial services into sustainable investments in a program to reduce greenhouse gas emissions by 40 percent by 2030.
The Pensions Regulator said Wednesday that it is monitoring Capita PLC after shares in the U.K. outsourcing giant plunged 45 percent from the Tuesday close of business following a profit warning, raising concern over its £381 million ($540 million) pensions deficit.
Employers in most European countries are abandoning pension schemes that guarantee a specific annual income in a trend that poses a threat to future retirees, a leading insurance regulator has warned.
Just one in three global business leaders has made plans to deal with Europe’s sweeping information protection regime, which comes into force in four months, Ernst & Young warned on Wednesday.
A group of underwriters in the Lloyd's of London insurance market, led by Tokio Marine Kiln Syndicates Ltd., have won a default judgment moving them closer to recovering more than £550,000 ($777,000) of premiums misappropriated by a firm working on their behalf.
Starstone Insurance Ltd. has said in High Court filings that it is entitled to “lawfully avoid” its policy with construction management firm Lagan Construction Ltd., arguing that the firm failed to disclose information that would have revealed the extent of defects to the Irish wind farms for which it is seeking indemnity.
The U.K. government will extend its existing rules aimed at boosting accountability for senior banking executives to cover the insurance industry by the end of the year, the Treasury said Monday.
The European Union would benefit from a post-Brexit arrangement providing the U.K. financial services industry with partially equivalent rules and an independent dispute settlement system, Bank of England Governor Mark Carney told lawmakers on Tuesday.
Blockchain has grown well beyond its cryptocurrency roots, leading proponents to suggest that it can aid in everything from voter registration to supply chain tracking. Companies can prepare for insurability and regulatory issues by recognizing potential risks in advance, say Brian Scarbrough and Justin Steffen of Jenner & Block LLP.
Last month, the U.K. government announced its plan to implement a data protection bill that will avoid disadvantageous divergence with the EU's data protection regime. Companies in the U.K. should take this opportunity to clean up their data protection practices, and may need to look at other protective measures depending on the U.K.'s data protection adequacy, say Sarah Delon-Bouquet and Roman Madej of Bryan Cave LLP.
The range of possible and better fee agreements is wide. But such alternatives will become popular only if litigants confront the psychological tendencies shaping their existing fee arrangements, says J.B. Heaton, a partner at Bartlit Beck Herman Palenchar & Scott LLP.
In Chesterton v. Nurmohamed, a U.K. appeals court recently found that disclosing a breach of a worker's contract may satisfy the public interest requirement for whistleblower protection if a sufficiently large number of other workers are affected. This decision may cause some concern for well-known employers, say Emma Vennesson and Katherine Newman of Faegre Baker Daniels LLP.
As judges become better educated about the complexities of collecting electronically stored information, in particular the inefficacy of keyword searching, they are increasingly skeptical of self-collection. And yet, for many good reasons (and a few bad ones), custodian self-collection is still prevalent in cases of all sizes and in all jurisdictions, says Alex Khoury of Balch & Bingham LLP.
In an age where technology is poised to disrupt the existing landscape, insurers who embrace the changes and turn them into opportunities will thrive in an increasingly competitive marketplace, say Huhnsik Chung and Christina Cerutti of Baker McKenzie.
It’s safe to say that while demand ebbs and flows for legal services, there will never be a shortage of opinions about lateral partner hiring, which is positive for the industry, as anything with such vital importance to careers should attract significant attention. However, there is a unique mythology that travels with the discussions, says Dan Hatch of Major Lindsey & Africa.
With more than a third of lawyers showing signs of problem drinking, and untold others abusing prescription drugs and other substances, it is time for law firms to be more proactive in addressing this issue, says Link Christin, executive director of the Legal Professionals Program at Caron Treatment Centers.
The current trend of rolling back privilege in an investigatory context is a troublesome development for companies, and may lead to a reduction in self-reporting and investigation. Even more concerning are the implications on litigation privilege, meaning that defendants will need to incriminate themselves in order to satisfy the evidential test as to when a prosecution was reasonably anticipated, says Georgina Jones of Taylor Wessing LLP.
David Coale, leader of the appellate practice at Lynn Pinker Cox & Hurst LLP, shares his insights into what works — and what does not — when setting up and maintaining a legal blog.